Answer: Given, the ball bearing market is purely competitive. Also at the current stage the firms in this market are earning positive economic profits.
Therefore , in the long run as adjustments occur in the industry, we can expect the market price of ball bearings to<em><u> </u></em><u><em>decrease and individual firms' profits to decrease.</em></u>
This will take place as new firms will enter the market once they analyze that the existing firms are earning positive economic profits. Thus this will lead to decrease in price of ball bearing and further will lead to decrease in profit os a firm.
<u><em></em></u>
<u><em>Therefore, the correct option is (d)</em></u>
Answer:
Option A $210,000
Explanation:
As we know that:
Closing Equity = Opening balance + (Revenues - Expenses - Dividends)
To find closing equity we have to find opening equity and the opening balance is the difference of opening assets and opening liabilities so:
Opening Total Equity = Opening Total Assets - Opening Total Liabilities
Putting values we have:
Opening Equity = $250,000 Op. Assets + $180,000 Op. Liabilities
= $70,000 Opening Equity
So putting the value of opening equity we have:
Closing Equity = $70,000 Opening Equity + ($375,000 Revenue - $200,000 Expenses - $35,000 Dividends)
= $70,000 + 140,000 Retained Earnings = $210,000 Closing Equity
So the option A is correct.
Answer:
(a). For every additional square foot of area of a house, the price is predicted to increase by $61
(b) The asking price is $145410 and the residual is a negative $4100
Explanation:
As per the data given in the question,
a) From regression equation Slope = 0.061
So slope = (0.061 × 1,000) ÷ 1 sq. ft.
= $61 per sq. ft.
For every additional square foot area price is increased by $61
b) If size of the house is = 1600 square foot then
Price = 47.81 + 1600*0.061
=$145,410
The asked price is $4,100 less than estimated price and residual is not positive
Hence,
Asking price = $145,410
Residual price = a negative $4,100
Answer:
a. Must have a good faith belief that the tax return position will be accepted by the IRS.
Explanation:
Certified Public Accountant (CPA) is a term used to refer to the state title of approved accountants in the Uniform Certified Public Accountant Examination. The CPA allows these professionals to issue opinion statements in financial reports, following a few rules. For example, the Tax Services Standards Statement No. 1 states that a basic principle of the provision of tax services that the CPA has is to have a good faith belief that the tax return position will be accepted by the IRS.
Answer:
creates a shortage
Explanation:
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Because price is set below equilibrium price, demand would outstrip supply and this would lead to a shortage
Effects of a price ceiling
1. It leads to shortages
2. it leads to the development of black markets
3. it prevents producers from raising price beyond a certain price
4. It lowers the price consumers pay for a product. This increases consumer surplus
